Select Properties
A closer look at a selection of Davis Companies properties demonstrates the priority it places on excellence, innovation and leadership. From its earliest redevelopment projects to its more recent renovation and development of Charles River Plaza and Reservoir Woods, the Company has sought to beautify and enhance neighborhoods, create communities where none existed and add to the quality of residents' and tenants' lives.
Burlington Woods Office Park I & III
Burlington, MA
SF: 267,829
The Company purchased two office buildings, totaling 267,000 square feet, at foreclosure auction.
Approximately 66% occupied at acquisition, the properties benefited from an ideal location, nestled between two major highway interchanges, a Marriott Hotel, a large regional mall and a dynamic new life style center. Additonally, both buildings were situated along Route 128, a primary arterial highway, providing tremendous visibility and tenant signage opportunities.
Due to its Class A+ location and the fact that Burlington Woods I was only 16% occupied at acquisition, the Company decided to make a significant investment in modernizing this 29-year-old building. We installed an entire new window system, increasing the natural light by approximately 35%, a new monumental exterior entry, modern cafe and conference center, a new floating glass staircase in the main lobby with glass landings on the upper floors and modern bathrooms.
The investment strategy was to modernize a Class B building with a Class A+ location in order to attract technology oriented tenants looking for a vibrant, well-located office environment.
Burlington Woods III had been renovated previously and was 83% occupied with first class tenants such as Philips Electronics and the Ionics water purification division of General Electric, both having long-term commitments at the property. This income provided a solid ballast to the investment.